Global Banking News-January 25, 2018--HKMA to allow virtual banks
with no physical presence
Bank, as well as the virtual banks
Ally and Simple, make funds available according to the standard regulations or better.
As a result, banks in Asia may have to start thinking of setting up virtual banks
(banks without any physical branch networks) and come up with different ways of servicing customers.
This way the list can be used for both virtual banks
offer better deals on checking accounts, according to a study done by Bankrate.
For the bold, there are virtual banks
-- institutions that operate online only.
The key challenge for banks will inevitably lie in striking a balance between bricks and clicks--that is, traditional branch banks and virtual banks
It is possible that virtual banks
could be more volatile.
Carse also said Hong Kong will soon issue guidelines on electronic banking to address problems that involve banks outside Hong Kong advertising for deposits in the territory, ownership of virtual banks
and online security matters.